Argentina's Congress passes debt restructuring law


A man walks next to a grafitti depicting US' Judge Thomas Griesa and vultures behind bars, outside the National Congress as lawmakers discuss the approval of a bill on sovereign payment of debt that would skirt US restrictions in Buenos Aires on Sept 10, 2014. The bill has been approved - AFP Photo.

BUENOS AIRES: Argentina's Congress gave final approval on Thursday to a law proposing to restructure the country's debt to skirt a US court ruling that forced it into its second default in 12 years.

The debt-restructuring plan aims to enable Argentina to make payments on its foreign-held bonds locally or elsewhere beyond the reaches of the US court. It also encourages investors to move their Argentine debt from the US or other foreign jurisdictions to either Argentina or France.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Wall St set to open lower as Meta Platforms, economic data weigh
Al-’Aqar REIT aims to acquire yield-accretive properties from KPJ Healthcare
Samenta wants micro enterprises to be exempted from e-invoicing
Pantech seeks Main Market listing for subsidiaries via SPV
Inta Bina secures RM224.80mil contract for serviced apartment project
UMediC transfers to Main Market
Ringgit closes marginally higher against US dollar
AirAsia X mulls flying to Eastern Europe, London and Orlando
MKHOP posts RM16mil net profit in 2Q24
Gobind: Appointment of new DNB board members marks major milestone in 5G network restructuring

Others Also Read